JKN company owner, transgender beauty Anne Jakkaphong Jakrajutatip
On November 9, Thai media company JKN Global Group sent a notice to the country's Stock Exchange that it had filed for bankruptcy to resolve liquidity issues after JKN failed to complete the bond repayment on time.
The bankruptcy filing comes two months after JKN missed a deadline to repay bonds worth about $12 million.
According to JKN's announcement, the company's board of directors will submit a business rehabilitation plan to the Thai bankruptcy court, allowing the company to continue operating based on this plan.
JKN Global Group, whose owner is transgender beauty Anne Jakapong Jakrajutatip, 44, has bought the rights to organize the Miss Universe pageant in 2022 for $20 million.
Meanwhile, the Miss Universe coronation night will continue to be held as planned in San Salvador (El Salvador) on November 18.
Reigning Miss America R'Bonney Gabriel is expected to pass on the crown to her successor that night.
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